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A growing number of would-be homebuyers are choosing to rent while waiting for Britain’s exit from the EU to produce bargain property prices.

This week a report published by OneFamily, a mortgage and investment provider, warned that as many as 136,000 first-time buyers are holding off because they are unsure what impact Brexit will have on the property market. As well as deterring young people from buying, existing homeowners are also delaying moving up the ladder.

Some are choosing to sell and move back into rented accommodation, gambling on a house price crash before making their next purchase. If prices fall substantially, this strategy could make homeowners tens of thousands of pounds in...